Current Affairs - Economy - Discussion

China announced additional tariffs of 34% on U.S. goods as part of a serious escalation in the trade war between the world’s two largest economies. This was one of the most significant retaliatory actions taken by China in response to U.S. trade measures. In addition to the tariffs, China also imposed controls on the export of certain rare earth elements and filed a complaint with the World Trade Organization (WTO). These measures signal the depth of the economic standoff and the strategic importance both countries place on controlling trade dynamics.